Alphatec (NASDAQ:ATEC) Downgraded to Hold Rating by Wall Street Zen

Alphatec (NASDAQ:ATEC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

ATEC has been the subject of several other reports. Morgan Stanley set a $23.00 price objective on Alphatec in a research note on Tuesday. JPMorgan Chase & Co. started coverage on shares of Alphatec in a research report on Friday, October 24th. They set an “overweight” rating and a $19.00 price target on the stock. Lake Street Capital set a $25.00 price objective on shares of Alphatec and gave the company a “buy” rating in a research note on Friday, October 31st. HC Wainwright raised their target price on shares of Alphatec from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus started coverage on Alphatec in a research report on Tuesday, October 28th. They issued a “buy” rating and a $20.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Alphatec Trading Up 0.8%

Shares of Alphatec stock opened at $21.45 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02. Alphatec has a twelve month low of $8.69 and a twelve month high of $22.66. The firm has a market capitalization of $3.19 billion, a PE ratio of -20.63 and a beta of 1.08. The firm’s 50-day moving average price is $17.79 and its 200 day moving average price is $14.81.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to analyst estimates of $182.78 million. Alphatec’s revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.28) EPS. On average, sell-side analysts predict that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In other news, major shareholder Squadron Capital Llc sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $20.62, for a total value of $5,155,000.00. Following the transaction, the insider directly owned 10,895,045 shares in the company, valued at approximately $224,655,827.90. This represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $22.11, for a total value of $2,211,000.00. Following the transaction, the chief executive officer owned 5,264,078 shares of the company’s stock, valued at approximately $116,388,764.58. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,467,500 shares of company stock worth $48,531,664 in the last 90 days. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATEC. LPL Financial LLC grew its position in shares of Alphatec by 1.2% during the first quarter. LPL Financial LLC now owns 418,061 shares of the medical technology company’s stock worth $4,211,000 after buying an additional 4,826 shares in the last quarter. Vanguard Group Inc. lifted its stake in Alphatec by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock worth $60,990,000 after acquiring an additional 45,792 shares during the last quarter. Deutsche Bank AG lifted its stake in Alphatec by 11.8% in the first quarter. Deutsche Bank AG now owns 1,185,235 shares of the medical technology company’s stock worth $12,018,000 after acquiring an additional 124,785 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Alphatec by 4.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,734 shares of the medical technology company’s stock worth $413,000 after acquiring an additional 1,792 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Alphatec in the 1st quarter valued at $2,240,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.